English | Español | Français
Market Cap: $ 3.27 T 24h Vol: $ 101.41 B BTC Share: 62.62%
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
bitcoinBTC/USD
$ 102,750.53 0.68%
No Result
View All Result
BTCNEWS
  • Bitcoin
  • ETF
  • Prices
  • Exchanges
  • Glossary
BTCNEWS
No Result
View All Result
Home Latest

Central and Northern Europe Hold 22% of Worldwide Cryptocurrency Traffic, Chainalysis Reports

Emerging as Second-Largest Global Crypto Economy, Central, Northern, and Western Europe Received $987.25 Billion in On-Chain Transactions from July 2023 to June This Year.

Mark Valerius by Mark Valerius
October 23, 2024
Share on FacebookShare on Twitter

Key Points

  • Central, Northern, and Western Europe (CNWE) contributed 22% to global crypto volume from July 2023 to June 2024.
  • Bitcoin (BTC) saw nearly 75% growth for transactions under $1 million in the region.

Crypto Economy in Europe

Central, Northern, and Western Europe (CNWE) accounted for 22% of the worldwide crypto volume from July 2023 to June 2024. This region has become the second-largest crypto economy worldwide, receiving $987.25 billion in on-chain value during this period, as per a recent research report by blockchain forensic firm Chainalysis.

This figure represents more than 21.5% of the total global transaction volume. Most countries in the CNWE region saw a year-over-year growth rate of 44%. The United Kingdom led this trend, contributing $217 billion to the region’s total and ranking 12th in the global crypto adoption index.

Bitcoin and Stablecoin Transactions

Bitcoin (BTC) recorded nearly 75% growth for transactions under $1 million. This marked it as the highest-performing asset type in the region. Across all transaction sizes, BTC accounted for $212.3 billion, approximately one-fifth of CNWE’s total value received on-chain.

However, Bitcoin’s performance in smaller transactions was behind that of North America. Stablecoins made up nearly half of CNWE’s total inflows at $422.3 billion. Stablecoin purchases using fiat currency in the region significantly outpaced Bitcoin, with the euro accounting for 24% of stablecoin purchases compared to just 6% for BTC.

In the UK, which recorded a growth rate of 58.4%, stablecoins dominate the merchant services market, consistently holding a 60-80% market share. The demand for stablecoins continues to rise, especially as businesses in inflation-affected economies like Argentina seek financial stability through crypto amid challenges posed by traditional currencies.

Tags: Bitcoin (BTC)

Related News

spain crypto

Major Spanish Bank Recommends 7% Crypto Investment For Wealthy Clients

June 18, 2025
bitcoin debate

Core Developers Are ‘Risk To Bitcoin’ In Governance Battle, Says JAN3 CEO Samson Mow

June 10, 2025
Interview with 0G Labs’ Michael Heinrich on The Convergence of AI and web3

Interview with 0G Labs’ Michael Heinrich on The Convergence of AI and web3

June 10, 2025
market libra

Argentine President Cleared Of Ethics Violations In $4.5 Billion LIBRA Crash

June 10, 2025
bitcoin
Bitcoin (BTC)
Rank: 1
$ 102,750.53
Price (BTC)
Ƀ1.00000000
Marketcap
$ 2.04 T
Volume
$ 30.03 B
24h Change
0.68%
Total Supply
19.88 M BTC

  • About Us
  • Contact
  • Advertise
X-twitter Telegram Facebook Instagram Youtube Medium Linkedin

Information you can trust

BTCNews.com provides Bitcoin news and other cryptocurrency news, reaching millions of crypto enthusiasts daily.

It offers comprehensive coverage of business, financial, and international news related to digital assets.

Serving professionals through digital platforms, industry conferences, and direct updates, BTCNews.com is a premier provider of blockchain and crypto news.

Disclaimer: The information provided by BTCNews.com is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments are highly volatile and involve significant risks.

Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. BTCNews.com is not responsible for any losses incurred due to the use of information provided on this site.

  • © 2008 - 2024 BTCNews.com
  • Terms of Use
  • Privacy
  • Cookies
No Result
View All Result
  • Market
    • Crypto Prices
    • Crypto Exchanges
  • Learn
    • Glossary
  • News
    • Latest

© 2008 - 2024 BTCNews.com